Owens & Minor Implements Management Succession Plan
July 28 2014 - 5:12PM
Business Wire
President & COO James Bierman Named
President & CEO, Effective September 1st; Craig Smith to Serve
as Executive Chairman
Owens & Minor, Inc. (NYSE:OMI), a leading healthcare
logistics company, today announced that its Board of Directors has
named President & Chief Operating Officer James L. Bierman, 61,
to serve as President & Chief Executive Officer and appointed
him as a director of the company, effective September 1, 2014.
Craig R. Smith, 63, currently Chairman & Chief Executive
Officer, will continue to serve the company in the role of
Executive Chairman.
Craig R. Smith, currently Chairman &
Chief Executive Officer of Owens & Minor, Inc. (NYSE:OMI), will
assume the role of Executive Chairman, effective September 1, 2014.
(Photo: Business Wire)
Today’s announcement reflects the Board’s ongoing succession
planning process and is designed to ensure a seamless transition to
proven leadership as the company continues to advance its strategy
of Connecting the World of Medical Products to the Point of CareTM
by broadening its service offering to provider and manufacturer
customers.
Anne Marie Whittemore, Lead Independent Director, said, “Jim
Bierman is a talented executive with the experience and skill set
to lead Owens & Minor. He has a deep understanding of the
company and its business, having spearheaded our response to the
changing healthcare landscape and directed the investments
necessary to drive long-term growth and value creation. We look
forward to his leadership in continuing these efforts as our next
CEO.”
Whittemore continued, “On behalf of the Board, I want to thank
Craig Smith for the extraordinary contributions he has made to the
success of Owens & Minor. Under his leadership as CEO, Owens
& Minor has grown into a leading $9 billion international
healthcare logistics services organization serving both
manufacturers and healthcare providers. We are thankful that he
will continue to serve the company in the role of Executive
Chairman, and we are confident that the company and our management
team will benefit from his invaluable experience.”
Bierman said, “I am honored to have the opportunity to lead
Owens & Minor at such an exciting time in its history. Over the
past three years, we have become a vital supply chain services
provider to the healthcare industry by making strategic investments
across product and service categories and diversifying into new
geographies, including China and Europe. We are well positioned to
build on our proven core capabilities, history of innovation and
strong balance sheet to serve the needs of both healthcare provider
and manufacturer customers worldwide. I look forward to working
with our first-rate executive team and the thousands of talented
Owens & Minor teammates as we continue to execute our strategic
plan and create sustainable value for customers and
shareholders.”
Smith said, “I’m extremely proud of the world-class business
that Owens & Minor represents today, and humbled to have led
our 6,700 dedicated teammates around the world. Together we have
created a leading healthcare logistics company with strong
momentum, allowing us to serve provider and manufacturing customers
globally with more complete and cost-effective solutions. Jim is a
proven executive who, as a key architect of our strategy, has led
positive change across the company’s sales, operations and
logistics. I look forward to working with him and the Board as we
make this important transition.”
James L. Bierman
Biography
Mr. Bierman has served as President and Chief Operating Officer
since 2013. Prior to that, he was Executive Vice President and
Chief Operating Officer and Executive Vice President and Chief
Financial Officer. He joined Owens & Minor in 2007 as Senior
Vice President & Chief Financial Officer. He previously held
senior positions at Quintiles Transnational and was a 22 year
veteran of Arthur Andersen, where he was a partner for 10
years.
Mr. Bierman currently serves on the board of directors of
TeamHealth Holdings, Inc., where he is chairman of the board’s
audit and nominating and governance committees. He is a former
director of Quintiles and its parent company, Pharma Services
Holding, Inc.; Devco Pharmaceuticals Ltd (a U.K development-stage
biotech company); Physicians’ Online Inc. (a privately held U.S.
internet provider of medical information and communications and a
transaction network for physicians); and Mediconsultant.com Inc. (a
publicly held North American internet provider of healthcare
information and services).
He received a Bachelor’s Degree in Economics and History from
Dickinson College and a Master’s Degree in Business Administration
from Cornell University’s Johnson Graduate School of
Management.
About Owens & Minor,
Inc.
Owens & Minor, Inc. (NYSE:OMI) is a leading healthcare
logistics company dedicated to Connecting the World of Medical
Products to the Point of CareTM by providing vital supply chain
services to healthcare providers and manufacturers of healthcare
products. Owens & Minor provides logistics services across the
spectrum of medical products from disposable medical supplies to
devices and implants. With logistics platforms strategically
located in the United States and Europe, Owens & Minor serves
markets where three quarters of global healthcare spending occurs.
Owens & Minor's customers span the healthcare market from
independent hospitals to large integrated healthcare networks, as
well as group purchasing organizations, healthcare products
manufacturers, and the federal government. A FORTUNE 500 company,
Owens & Minor is headquartered in Richmond, Virginia, and has
annualized revenues exceeding $9 billion. For more information
about Owens & Minor, visit the company website at
www.owens-minor.com.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20140728006201/en/
Owens & Minor, Inc.Truitt Allcott, Director, Investor &
Media Relations804-723-7555truitt.allcott@owens-minor.com
Owens and Minor (NYSE:OMI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Owens and Minor (NYSE:OMI)
Historical Stock Chart
From Apr 2023 to Apr 2024